ASEAN: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in ASEAN

The ASEAN forged stainless steel bar market declined slightly to $X in 2022, dropping by X% against the previous year. Overall, consumption recorded a noticeable downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Forged Bars Of Stainless Steel in ASEAN

In value terms, forged stainless steel bar production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible curtailment. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Forged Bars Of Stainless Steel

Exports in ASEAN

In 2022, overseas shipments of forged bars of stainless steel decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, forged stainless steel bar exports contracted to $X in 2022. In general, exports recorded a noticeable setback. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore represented the main exporter of forged bars of stainless steel in ASEAN, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Vietnam (X%) and Malaysia (X%).

Exports from Singapore decreased at an average annual rate of X% from 2012 to 2022. Vietnam (X%), Thailand (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.) and Malaysia (X p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest forged stainless steel bar supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Thailand, with an X% share.

In Singapore, forged stainless steel bar exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports in ASEAN

After two years of growth, supplies from abroad of forged bars of stainless steel decreased by X% to X tons in 2022. Over the period under review, imports recorded a deep slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, forged stainless steel bar imports stood at $X in 2022. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Singapore was the major importing country with an import of around X tons, which accounted for X% of total imports. Thailand (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Malaysia (X%), Vietnam (X%) and the Philippines (X%). Brunei Darussalam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest forged stainless steel bar importing markets in ASEAN were Singapore ($X), Thailand ($X) and Malaysia ($X), with a combined X% share of total imports. Indonesia, Vietnam, the Philippines and Brunei Darussalam lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform